The Senate Special Session Committee on Energy Policy this week held a hearing on Special Session Senate Bill 1 (MJ.White-R-Venango), the Alternative Energy Investment Act, outlining a proposal for state investments in renewable energy.

Special Session Senate Bill 1 is an alternative to Gov. Rendell’s proposal that would provide: $20 million annually for consumer/home energy efficiency programs,

$20 million annually in tax credits for investments in alternative energy production projects; and $20 million annually to finance a $250 million bond for alternative and renewable energy development, clean energy and energy conservation, and pollution control technology.

For consumers, $20 million would be available for grants, rebates and reimbursements for: purchasing energy-efficient heating and cooling units and appliances; residential energy conservation projects, including purchasing and installing: solar or solar photovoltaic panels; energy efficient windows and doors; and insulation, air-sealing and other energy saving projects.

Tax credits totaling $20 million would be available to facilities which: produce or distribute renewable energy by using biofuel, biomass, solar power, wind energy, clean coal technologies, waste coal or other alternative energy sources defined under the Alternative Energy Portfolio Standards Act; manufacture or produce products that provide renewable energy; and are used for the research and development of technology to provide alternative or renewable energy sources.

Bond proceeds would be allocated in the amount of $50 million per year over a five-year period for: development of alternative and renewable energy technologies and venture capital; pollution control technology projects to assist existing electric generating units meet enhanced state and federal pollution emission reduction requirements; and clean energy and energy conservation projects.

The Committee received testimony from: Iberdrola Renewable Energies USA, Gamesa, Mid-Atlantic Solar Energy Association, Plextronics, Inc., New Spring Capital, Ben Franklin Technology Partnership, SWAN Biomass Company, Keystone Biofuels, Inc., Pennsylvania Energy Resources Group and Secretary Dennis Yablonsky, Department of Community and Economic Development.

A video of the hearing is available online and copies of the testimony are available at the Committee’s webpage.

The Senate Special Session Committee on Energy Policy is chaired by Sen. Mary Jo White (R-Venango) and Sen. Ray Musto (D-Luzerne).

NewsClip: Governor, Business Leaders Urge Action on Energy Proposals

11/16/2007